Law No. 446, enacted on October 28, 2024, establishes a tax amnesty effective until December 31, 2024. This amnesty allows taxpayers to settle their tax obligations without incurring interest, surcharges, certain fines, or penalties.
Key Provisions of the Law:
1. Covered Taxes. The amnesty covers:
- Income Tax;
- Property Tax;
- Business License Tax;
- Transfer Tax on Movable Property and Provision of Services;
- Selective consumption tax, and
- Sole Annual Corporate Tax (including rehabilitation fine)
2. Who Can Apply for the Amnesty: Individuals, legal entities, and real estate properties that are in arrears on taxes, fees, or special contributions in the administrative or coercive collection phase at the time this law comes into effect. To access the benefits of amnesty, the regulation requires full payment of the principal balance (nominal) and fines (except fine for rehabilitation of legal entities).
3. Regularization for Withholding Agents: Withholding agents with debts from periods until June 2024, corresponding to withheld taxes related to income tax and educational insurance, may regularize their situation without penalties by paying the outstanding balances directly to the General Directorate of Revenue.
4. Effective Date: The law has already come into effect and will remain in force until December 31, 2024.
For more information on how to take advantage of this tax amnesty, please contact Rosas y Rosas at info@rosaslaw.com